EURAUD Range High| Range Low| Price Action| Trend

Evening Traders,

Today’s analysis – EURAUD – trading in a price action range where a rotation to the lows allows for a bullish bias,

Points to consider,

- Price Action Impulsive
- Range Low Support
- Bearish Order Block
- Range High Resistance
- RSI Over-extended

EURAUD’s immediate price action is impulsive where if trading at range low allows for a long biased entry.

The Bearish OB is likely to produce resistance where a rotation towards the lows will them become probable.

The current RSI is over-extended, a reversion to the mean is probable after an oversold bounce comes to fruition.

Overall, in my opinion, EURAUD is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

Thank you for following my work

And remember,

“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you‘re wrong.” -George Soros